Guideline Value for Jamaliya Lane

Jamaliya Lane guideline value

The current guideline value of Jamaliya Lane, located in Sembiam village under the Sembiam SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - II.

How the guideline value of Jamaliya Lane has changed

The guideline value of Jamaliya Lane has seen several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased to Rs 1,600 per sq.ft in 2012. However, it decreased to Rs 1,072 per sq.ft in 2017. The subsequent revision in 2023 saw the value rise significantly to Rs 1,600 per sq.ft, and the latest revision in 2024 has set the value at Rs 1,700 per sq.ft, reflecting a 6% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2007 to 2024 is an increase of 89%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Jamaliya Lane's 2024 guideline value is below this median.

• Jamunabai Nagar 1st Street: Rs 3,500 per sq.ft (2024)
• Jamunabai Nagar 2nd Street: Rs 3,500 per sq.ft (2024)
• Janakiram Nagar 1st Cross Street: Rs 3,500 per sq.ft (2024)
• Janakiram Nagar 1st Main Road: Rs 3,500 per sq.ft (2024)
• Janakiram Nagar 2nd Cross Street: Rs 3,500 per sq.ft (2024)
• Janakiram Nagar 2nd Main Road: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jamaliya Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jamaliya Lane?

The Sub Registrar Office that covers Jamaliya Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sembiam

The guideline value is a crucial factor in property transactions in Sembiam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value serves as a benchmark for the minimum value at which a property can be registered.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives its due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jamaliya Lane?

The current guideline value of Jamaliya Lane is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 89% over the years.

What is the land classification for Jamaliya Lane?

Jamaliya Lane is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property in Jamaliya Lane?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Sub Registrar Office for Jamaliya Lane located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it covers the registration for Jamaliya Lane.